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The latest business confidence data from the Turkish Statistical Institute (TurkStat) reveals a mixed picture across different sectors.
Released on Friday, the report shows an increase in confidence within the services sector, while retail trade and construction experienced declines.
The services sector saw a positive movement with a 1.5% increase in the seasonally adjusted confidence index, reaching 120.4 in March compared to February 2024. This suggests a more optimistic outlook among businesses operating in services.
However, the news wasn't as positive for other sectors. The retail trade sector dipped slightly, with the confidence index decreasing by 1.0% to 113.3. Similarly, the construction sector witnessed a more significant decline of 3.6%, bringing the confidence index down to 88.6.
While the reasons behind these specific sectoral trends are not mentioned in the report, it can be helpful to consider ongoing economic factors or recent events that might influence business sentiment.
Overall, this data paints a picture of cautious optimism in the Turkish business environment, with some sectors faring better than others. (ILKHA)
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